Beneficial Future Mcx Trading Tips

Market Outlook

MCX Gold showed bearish movement due to weak dollar and if price trades below 32000 in upcoming session then we will keep downward overview towards next immediate support level i.e. 31800. MCX Crude oil was quite positive and we will continue to suggest bullish trend, if price manages above 4450 and above this level it has next major resistance at 4500 and lower side it has initial support at 4350. MCX Copper tokk some recovery from lower levels after bearish movement and for upcoming trading session it may take more bullish movement and test its strong resistance level of 440 and above this level again bullish bias will active up to next resistance of 445.

Fundamental News

Gold slipped on Thursday, pressured by technical selling after repeatedly failing to breach $1,300 this week, though U.S. sanctions on Chinese telecoms company Huawei dented risk appetite and limited bullion’s losses.

Crude Oil prices rose on Thursday for a third day running as fears of supply disruption amid heightened tensions in the Middle East overshadowed swelling U.S. crude inventories

GOLD

Gold showed sideways to bearish movement and found the major support level of 31850. Now if price sustains on higher level then it will test next resistance level of 31700. On other side 32300 will be major support level.

SILVER

Silver showed sideways to bearish movement and found the major support level of 36800. Now if price sustains on higher level then it will test next resistance level of 36500. On other side 37600 will be major support level.

CRUDE

Crude oil showed sideways to bullish movement and found the major resistance level of 4470. Now if price sustains on higher level then it will test next resistance level of 4540. On other side 4350 will be major support level.

COPPER

Copper showed sideways to bearish movement and found the major support level of 427. Now if price sustains on lower level then it will test next support level of 423. On other side 433 will be major resistance level.

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